You may have been toying with the idea of selling your home for a while. Perhaps you want to sell your property and move into a bigger home for your family, or maybe you’re interested in downsizing. You could also be thinking of consolidating your assets to move to a retirement community.
This might be the best time to sell your home, regardless of your motivations. According to Canada real estate news — TD Bank predicts that the country is set for an unprecedented home price drop by early 2023. In other words, you should consider selling your home now to get the most money for your property.
Still, that’s easier said than done. With market trends shifting and mortgage rates rising, competition is stiff. Here are some tips that may help you get the best price for your home:
#1 Maximize Market Reach
Maximize your market reach to access as many potential buyers. Use old-fashioned for-sale signs, newspaper and magazine ads to reach conventional buyers. Utilize online real estate marketplaces and even social media pages to reach younger people.
Consider using high-quality photographs, 3D videos, and virtual reality tools to market your home on the Internet too. Many buyers purchase homes without physically seeing them nowadays. You can also connect with buyers outside your neighbourhood, city, province, and even country with modern technology.
#2 Avoid Under Costing Your Home
With the Canadian real estate market cooling down, it might be tempting to undervalue your home for a quick sale. This would be a mistake and cause you to lose revenue. Potential buyers may offer a little less than your listing price anyway, so conduct your market research, and price your home accordingly.
#3 Complete Maintenance and Repairs
Homeowners sometimes neglect upkeep. But potential buyers will notice issues. Complete all maintenance before opening your home to viewings. Fix up the kitchens and bathrooms and replace any dead light bulbs. Call pest control if necessary to get rid of bugs.
Raise your property’s curb appeal by adding a fresh coat of paint to the doors, walls, and windows. You can also have a landscaper manicure the lawn. To go a step further, add some planters, flowers, and other greenery.
#4 Modernize Your Property
You can modernize your property with some cost-effective steps that potential buyers will appreciate. Replace your old fixtures with slick contemporary ones inside and outside your house. Replace old and worn appliances with new smart and energy-efficient ones. You can also add smart home technology such as smart light bulbs, smart thermostats, and security systems to entice millennial home buyers.
#5 Professionally Stage the Home
Depersonalizing a property is a good idea because it allows potential buyers to envision living in a home. Increase demand and bids for your home by staging it tactfully. Place the right furniture, designate rooms, and remove personal effects to depersonalize your home. Personal effects include picture frames, fridge magnets, artwork, and collectibles.
These five tips can help you get the best price for your home. Stay proactive and follow the latest real estate news to get top dollar for your property.